Darryn Pollock

Whales Waking Up: $1bln in BTC moved over 12 Hours — What’s the Plan?

Whales still have a big say in the way Bitcoin moves. So, with a couple major transactions being noted, what is happening behind the scenes?
Whales Waking Up: $1bln in BTC moved over 12 Hours — What’s the Plan?
Contents

The very nature of Bitcoin transactions means that all of them can be seen thanks to transparency, but they are also anonymous. Because of this, some major transactions from long dormant accounts have been spotted on Twitter, totaling over $1 billion.

Four of the biggest Bitcoin wallets have shifted this grand amount of money, and over a 12 hour period, leaving many wondering what could be going on. Most of these wallets have been inactive for years as well, which adds more mystery to the moves.

With such big moves happening, and such a low point in Bitcoin’s market, there could be real fear of capitulation and a potentially massive dump coming, but the actions of these transactions probably point to something else.

There appears to be some housekeeping going on by a big Hodlr, as the funds were divided up into 100 wallets in one instance. Another thought is that the move was to take advantage of the low fees to move the Bitcoin into Segwit wallets, as they were in legacy wallets before.

Four big moves

The first money move came from the highly monitored 9th biggest Bitcoin wallet. It has been dormant for four years and sprung to life as 66,000+ BTC (worth over $260 mln) was moved to another location.

Following that, the 10th biggest wallet by Bitcoin volume moved a similar amount, and then the 11th biggest wallet emulated the move. These actions continued with another wallet worth approximately half of the first two (ranked at #30), also on the move, moving 32,957 BTC, followed finally by another newer wallet previously ranked #36 moving another 31,269 BTC.

This total movement over the 12 hours saw 263,294 bitcoins shift at a value of just over $1 bln

What’s the plan?

These movements of course could cause some concern, but the following actions taken by the Whale seems to suggest it is more a case of housekeeping and preparation.

After the second move of the cache of Bitcoins, it was discovered that the coins had immediately been subdivided into smaller equally valued caches in sub-wallets after being transferred. Thus, the initial transfer was split into 99 wallets each containing 662.52BTC with the 100th containing a rounded 200BTC.

Following that, the other two large moves also followed a similar pattern as the Bitcoin were divvied out into smaller chunks across multiple wallets. It thus seemed indicative that the coins were being brought out of cold storage and being prepared to be traded, should the desire rise.

Of course, the move also took the Bitcoin from legacy wallets to Segwit, and as such, was an easy and cheap time to make the transfers as the transaction cost for Bitcoin is extremely low at the moment.

Sit and wait

It remains to be seen if these coins will be returned to cold storage, or even go dormant again if the Whale was to decide to continue holding on to his fortune, or if this preparation of the coins is a readying to dump a lot of BTC back into the market.

If they were to be dumped, it would have a huge effect on the price of Bitcoin and the entire cryptocurrency market, as the flooding would cause a huge spike in supply and probably negatively affect the price of the digital currency further.

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Daniel Osten

Monero and Ripple Ready to Surprise Investors, While All Eyes are on Bitcoin

Monero and Ripple are getting ready to please investors, but Bitcoin could ruin those plans.
Monero and Ripple Ready to Surprise Investors, While All Eyes are on Bitcoin
Contents

The psychology of the market is a curious thing. A week ago, Bitcoin at $7,900 seemed like a heaven-sent miracle, and today this price for the main asset is making players if not panicked, then certainly discontented and irritated. It’s understandable: when you are expecting a sharp rebound, and instead get a prolonged flat, plans for quick enrichment must be adjusted. But the market is a living organism where something is always happening. It’s full of opportunity for those who are prepared to seek and wait.

Capital redistributed within the market

Capitalization of all cryptocurrencies is $325 billion, completely unchanged since yesterday. Bitcoin dominance, however, has fallen to 41.3 percent, which indicates an active redistribution of capital within the market.

For the first time in a long while, we are seeing a lack of unity in the top 10: half of the assets are red, half are green.

Bitcoin and Cardano are showing the worst results - their prices have decreased by about 2 percent. Stellar and Litecoin are in the lead today, with an increase of 10 percent and 3.5 percent respectively.

BTC / USD

The yellow line of resistance, which we applied to the markup yesterday, has confirmed its significance: after several unsuccessful attempts to break it, Bitcoin price went to test the nearest level of the Fibonacci retracement. The $7,800 mark is holding for now, but the lack of good purchase volumes and the formation of a bearish flag are hinting at a possible capitulation.

BTC / USD, Bitfinex, 1 Hour Chart

The formed “head and shoulders” figure, whose neck line has already been broken, also fits into the scenario of further decline for Bitcoin price. The dimensions of the figure indicate the target of $7,500, which coincides with a strong mirror level from April 3 and is located in the middle of the $7,400 - $7,600 range that we mentioned previously.

The activation of this figure is only one of the possible scenarios, and finding a foothold above $8,000 during the day will call into doubt a deeper correction - but for now, it seems like a logical development.

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LTC/USD

In the past two days, Litecoin has been feeling more confident than the rest of the market. The reason for this - being listed on the Korean stock exchange Korbit. Thanks to this news, the asset is seeing trade volumes that inevitably lead to a change in price. Indeed, it increased by 11 percent, but disappointment with Bitcoin's lack of growth seeped into the Litecoin investor camp as well - the result, a correction to the 0.382 value of the Fibonacci grid.

LTC / USD, Bitfinex, 4 Hour

On the chart, we see a formed ascending channel, similar to the channels of other assets. At the time of writing, its lower boundary is at $130 - we will take this value as the minimum that is acceptable for a safe continuation of growth. Bitcoin’s approach to $7,500 may well force Litecoin price lower, but then the channel will be broken and it will be necessary to start all over again.

We suspect that the surge in volumes and the sharp increase in the price of Litecoin will not last long, and everything will return to normal after the excitement of the asset’s exchange listing passes.

The perspective target is still $150, coinciding with the 0.618 Fibonacci expansion, but first there needs to be some trading in the range of $135 - $143.

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XMR/USD

What the Litecoin investors still have to do, Monero fans are doing right now: the first thing that catches the eye on the chart is the lateral trade in the range of $190 - $205. Because of it, the price has formed a beautiful bullish flag, which is practically resting against the boundary of a long-term descending channel. Of all the possible scenarios of preparing for the break through a strong resistance, this is the most effective one.

XMR / USD, Bitfinex, 4 Hour Chart]

Given the bulls’ success, $220 will become the target with a triple confirmation (dimensions of the figure, the mirror level, the Fibonacci grid).

Confident readers can try to trade from the break in the boundary of the channel, with a stop-loss order in case of a false break. As for the correction scenarios, the level of $190 is stll looking like a reliable support for buyers.

XRP/USD

Ripple is showing us another bullish figure. It’s an isosceles pendant, and the target of its full activation - $0.88. The maximum activation time for this formation is by the middle of the day  on April 20, but we believe that the break will happen sooner. If only half of the figure’s height is realized, which happens quite often, a more modest target is $0.75.

XRP / USD, Bitfinex, 4 Hour Chart

Unfortunately for holders of long positions, the price can pierce the figure downwards  - a lot depends on the state of Bitcoin during the decisive moment for Ripple. In this case, a fall back to $0.60 is possible, so short-term investors should consider stop-loss orders on the lower facet of the triangle.

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Bitcoin Small Gains While Ethereum, Ripple, EOS, NEM Lose Momentum: Price Analysis, July 20

Bitcoin up, other cryptos down, those are the results of Thursday’s price fluctuations
Bitcoin Small Gains While Ethereum, Ripple, EOS, NEM Lose Momentum: Price Analysis, July 20
Contents

Hello, everybody. This is Andrew Strogoff and we are going to take off again. Bitcoin is a single crypto from this five to make small gains in the past 24 hours. The others develop their corrections, which are even deeper than I thought previously.

However, as I can see now, the market is still bullish and once investors gain volumes, they will be able to make another bullish run towards new targets.

As for the news, there is still nothing to fuel trends, but I think I can share with you some interesting ideas. First, EOS has a confirmation of 2,822 transactions per second which is much higher than at Bitcoin and Ethereum networks. This figure surpasses even Ripple network results. It is to mention that transactions speed has reached 2,000 operations per second just a couple of days ago.

Another interesting news comes from WEX exchange. They have started to perform a repair works and suspended all withdrawals. The most interesting thing there is that WEX has higher cryptocurrency rates than other exchanges. BTC’s price, for example, was around $9,200 there but went downwards and reached $8,700.

Bitcoin (BTC/USD) crypto reserve currency feels well and targets new high, price analysis, July 20

I personally love to call Bitcoin a reserve crypto in this industry as it reminds me of USD in the world of fiat money. The majority of transactions is conducted in BTC and at the moment I see that investors are running from altcoins and fuel Bitcoin price.

BTC/USD 4H Chart

Bitcoin has reached the support area at $7,341 on Thursday but failed to develop this correction and moved higher. I think that there are two reasons for that. The first one means that bulls have ended a correction and have started off for new tops. The second is that investors are running away from the altcoins via BTC/USD.

Anyway, I think that BTC/USD looks promising currently and I have some targets above current levels. As you can see, BTC price is above the ascending trend line meaning bulls have control over the market. My trading idea for the next couple of days looks the following: BTC/USD is likely to break through the resistance area at $7,565 and move higher targeting the next resistance at $7,734 where the green rocket is.

If any alternative scenario possible? I think yes, as we don’t know whether investors are running from altcoins or from the whole board of cryptocurrencies. We will see it soon.

Ethereum (ETH/USD) deeper correction is developing, price analysis, July 20

Ethereum loses momentum as we had a negative tendency in the past 24 hours. I’m far from thinking that this upside tendency that we have seen at the beginning of the week is done, but the correction seems to be deeper than predicted.

ETH/USD 4H Chart

Ethereum has reached my targets at the beginning of this week, but then reversed and moved lower. The currency pair has reached the support area at $473.39 and seems to break through it. I think that the currency pair is able to reach another support area at $453.24 before going higher. However, this reverse may happen even before touching this level.

In my personal opinion, Ethereum has targets higher at $500.36 at least. However, ETH price will reach them in a couple of days. I am almost persuaded that this bullish holiday will go on. However, currently, it is hard to be 100 percent sure in this.

Ripple (XRP/USD) bears gain momentum, but bulls are still on guards, price analysis, July 20

Ripple develops its bearish correction as well. The currency pair reached my targets at the beginning of this week, but reversed later and moved lower. I’m far from thinking that this is the end for the bullish trend, however, I have an idea, that XRP price is likely to move a bit lower before taking off.

XRP/USD 4H chart

As far as you can see, I have set lower targets as compared to my previous review. It does not mean that I have changed my opinion, but I think we have to reach those targets first before going higher. I see no signals currently and I think it is time to pay more attention to the level.

My main trading idea is the following: I think Ripple is going to reach the support area at $0.4495 before going higher. I recommend, by the way, to pay attention to the situation when XRP price reaches this level. Any reversal price action signal like a hammer or engulfing (or even doji) will be good signs for bulls.

EOS (EOS/USD) loses momentum, but bulls are aware, price analysis, July 20

EOS looks frustrating at the moment, but I think that this is still a correction and bulls will be able to regain control over the market. The news is good for EOS as the number of transactions within the main net increases.

EOS/USD 4H chart

I have placed my big green rocket lower. Yes, I had to do this because the market situation has changed. However, I’m still sure that the bulls have the capacity to change the situation in the nearest future. Let me explain what I have drawn on the chart.

My main trading idea for the next couple of days is the following. EOS price is going to reach the support area at $7.65 within the framework of this deeper correction that we can see currently. However, I think that this level will be protected by buyers and they are going to reverse EOS price and drive it higher. I bet on $9.56 price in the next couple of days.

NEM (XEM/USD) develops downside correction, price analysis, July 20

I have set my bullish targets lower as NEM develops a deeper correction frustrating my expectations. Anyway, I think that we will see some interesting events in the next couple of days. So stay tuned and follow the chart situation.

XEM/USD 4H chart

XEM/USD has reached my targets at the beginning of this week, but reversed later and started a correction. Anyway, my main trading idea is the same. I still believe that the currency pair is likely to resume its uptrend. However, I expect XEM price to touch the support area at $0.1729.
As for my bullish targets, I think NEM is likely to reach the resistance level at $0.2082.

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EOS Price Prediction: Will the Coin Leave the Bearish Market?

EOS could be the world’s fastest cryptocurrency if it can overcome obstacles and attract new users
EOS Price Prediction: Will the Coin Leave the Bearish Market?
Contents

Less than a year after its official release, EOS became one of the most attractive digital assets. Its protocol is designed to enable vertical and horizontal scaling of decentralized applications, which is achieved through an operating system-like concept. EOS is a form of cryptocurrency based on Ethereum and supports up to 50,000 transactions per second, twice as much as VISA cards.

EOS is not only interesting and attractive from a technological point of view but is also considered to be an alternative to Bitcoin. It is a more reliable financial instrument and represents a true implementation of blockchain into financial transactions.

EOS versus other cryptocurrencies

Currently, EOS is the sixth largest cryptocurrency, with a market value of almost 5 billion USD. At one point, just before the April 2018 fiasco, just days before launching its Dawn 4.0 release, its market cap exceeded 17 billion USD. However, after this thriving period, EOS’ cryptocurrency price wiped out almost 75% of its value compared to an average decrease of 30% for Bitcoin and the broader cryptocurrency market. The highly volatile digital currency entered into a bearish market, and investors started withdrawing assets from it. Despite this fact, the prediction for EOS is bright, featuring strong price growth.

The average daily trading volumes at the end of October reached 400 million USD, compared to almost 4 billion USD at the end of April, demonstrating a 90% decline. The short-term outlook for the digital currency is not so bright.

There was some impetus in the beginning of November, which pushed the price of EOS up, but the gains were small and did not last long. The daily trading volumes are steadily rising, reaching 750 million USD in Nov 7, stimulating the increase in prices. Several cryptocurrency rating agencies labeled EOS a “buy” based on their “adoption model” metric in regard to EOS' strong communities and app-building capabilities. The digital currency started the month with strong increases but later suffered some corrections, normalizing its value around 5.50 USD.

EOS versus other cryptocurrencies

EOS coin predictions: the medium-term trend

The medium-term outlook for the EOS coin remains in the bearish market. The positive start of the month gave some bullish pressure to the cryptocurrency, but later this impetus was lost at 5.83 USD in the supply area on Nov 7th. EOS price predictions remain negative during the month with expectations for some growth at the end of November, stimulated by small investors.

The price is below the ten days exponential moving average, putting it in a bearish market, which is not likely broken without some extraordinary events. The stochastic oscillator for EOS is at 26%, near the low end of its range, and its signal points down which implies a divergence with the price. The EOS forecast range in medium-term is 5.00-7.50 USD.

Even though EOS’ price prediction for 2018 is not so bright, the cryptocurrency is expected to gain high popularity in next months, gaining higher scalability, though there are numerous technical obstacles for the price to increase.

the medium-term trend

EOS future price: the short-term trend is down

In the short-term, EOS returns to a bearish trend and may extend losses to 5.05 or lower. The pressure was extremely strong on Nov 7th after the formation of a Tweezer top at 5.76 USD. The cryptocurrency moved down to 5.60 USD, breaking the 50 days exponential moving average.

The stochastic oscillator is at 27%, and its signal points imply downward price movement may occur in the short-term as the bears' momentum increases. EOS projection’s target in the short-term is 4.50-5.50 USD.

EOS future price

What can stimulate the growth of EOS?

The main driving force for EOS are:

Technology News: The BancorX platform has enabled token conversion between a total of 110+ Ethereum and EOS-based assets. Thus, popularization of the protocol will become even stronger over the coming months as many more platforms are expected to take up the token's exchange. This has led many analysts to change their EOS coin price prediction to “buy” despite the near-term bearish activity.

Growth potential: The cryptocurrency still has strong potential for growth; due to its scalability, if it can overcome obstacles there is potential for exponential growth.

Higher spending: Holiday season is approaching, and people are more inclined to spend. This probably will flood millions of dollars into the cryptocurrency market at the end of November and beginning of December. Last year, this period was marked with record highs of the cryptocurrency market and that (cash inflows) is expected again.

Scalability: The main problem of old-fashioned cryptocurrencies such as Bitcoin and Ethereum is scalability. This has stopped their growth and is expected to dominate market sentiment in the near to short-term. EOS implements blockchain smart contracts to create a decentralized, scalable network that far surpasses ETH and BTC.

Role in governance and voting: The EOS protocol can be used for modern election systems. Since the US Presidential elections in 2016, the world is more and more shaken by voting issues and manipulations. The EOS protocol allows establishing a safe, decentralized election system that is trustless and verifiable.

The EOS protocol combines the best of the blockchain, opening doors for widespread usage of the technology in the future, which is driving force behind its price.

“The EOS blockchain is changing what is possible, and we are only just scratching the surface, and it is no longer just the fringes who are getting excited. EOS is an infant chain with excellent pedigree, but before she can spread her wings and fly, the basics need to be learned, practiced and enforced. A governed chain needs to learn how to govern, a trustless community needs to trust each other and set the culture which will last for centuries,” said the CEO of EOS Dublin, Sharif Bouktila.

EOS prediction 2018: is EOS a good investment?

The simple answer is – Yes, but not in November.

The long-term EOS predictions are the coin price will return to an uptrend. The analysts recommend waiting by mid-November before purchasing EOS coins due to possible depreciation to around 4.50 USD. The digital currency is currently in the sell zone and will remain there for a few more weeks. The EOS price prediction for the end of November is  a much more encouraging estimate of 5.50-6.00 USD with positive outlook.

The EOS coin forecast for December is for the return of bullish market sentiment and rapid growth.

EOS prediction 2018

EOS vs Bitcoin

Many analysts predict bright future for the blockchain technology and cryptocurrencies. Unfortunately, several scalabilities and legal issued have hampered their expansion and subsequently reduce their prices.

The EOS protocol integrates the modern technologies, creating a nifty platform for easily usable and accessible services of dApps or decentralized applications. EOS tries to combine the best aspects from the most well-known blockchain networks such as Ethereum’s versatile and intense computing power and Bitcoin’s safe and secure ecosystem.

And if you still do not see the advantages of the EOS versus Bitcoin, see the differences:

 

Bitcoin

EOS

Launch date

January 3, 2009

June 26, 2017

Max. number of tokens

21 million

1 billion

Token uses

Digital asset

Native currency of EOS dapp platform.

Supported language(s)

C++

Any language that compiles into WebAssembly (WASM)

Consensus algorithm

Proof of work

Delegated proof of stake

Decentralized?

Yes

Yes

Transactions per second

7

50,000

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Daniel Osten

Bitcoin, Ethereum, EOS Dead Calm, ETC Goes on Rampage: Price Analysis, June 21

Flat movement continues for Bitcoin and most altcoins, with one remarkable exclusion
Bitcoin, Ethereum, EOS Dead Calm, ETC Goes on Rampage: Price Analysis, June 21
Contents

By Thursday 21st the market continues its lateral movement, while neither bears nor bulls fully control the prices. The main concern is that trading volumes remain low proving that the situation may change at any time. Today’s balance of forces somehow reminds us those of May 12th when players also froze in indecision unless one long green $1,000 candle broke Bitcoin’s bearish pattern and unambiguously pointed on further direction.

In the meantime in anticipation of a whale’s turn even significant news are unable to shake the market. Crypto prices almost haven’t reacted to the hack of Bithumb, the sixth biggest exchange. Our readers can compare this occasion with Coinrail’s hack (90th exchange by trading volumes) on June 11th, which allegedly caused sharp market’s fall.

As for the positive news, we can’t but draw readers attention to the latest Tether transparency update. Directors of the scandalous Stablecoin affirm that the company’s balance sheets have successfully undergone audit procedures and that all USDT tokens are fully backed by fiat currency on their banking accounts. The question is whether this news will be enough to finally inspire buyers for action?

Bitcoin is moving towards a critical point

BTC/USD

The flat movement will not last forever and we believe that the next couple of days will finally reveal Bitcoin's (and the whole market's) further destiny. On the daily chart, one can notice an intersection of the long-term descending channel (marked in red) and young ascending trend (thin green line). The situation becomes even spicier if we look at close proximity of the long-term ascending trend (orange line) and 0.786 Fibonacci retracement. Trading volumes which were steadily declining since the end of March have finally stabilized which means that all stars came together and either bears or bulls (we bet on bulls) should soon make their move. Their target is clearly visible and after breaking through descending channel at $6,800 and them through long-term ascending trend line which now acts as resistance at $7,000 we may see a rally to $8,000.

Further decline is less likely as the bears should be out of fuel after long run. A forming bearish wedge, however, may give them some strength and if they manage to win the battle for $6,000 a door to $5,500 will be easily open.

We recommend our readers to watch closely how the price will break through the triangle and do not hurry to make a trading decision right now.

ETH/USD looks promising provided that Bitcoin will not fail

ETH/USD

In comparison with other top altcoins Ethereum -0.33 percent looks good for the several reasons. First, and the most important – during long May’s and June’s downtrend the coin didn’t updated March’s minimum (when even Bitcoin -0.49 percent was very close to it). Second, after first shy evidence of possible market reversal, ETH recovered faster than most of the cryptos. Breaking through descending channel in past 24 hours is another positive sign, although not very encouraging – the upward movement was not continued for now.

With all eyes on Bitcoin -0.49% percent , we may establish further bulls’ targets which are $570 coinciding with the nearest support-resitance level and psychological $600 defined by 0.382 meaning of Fibonacci grid.

In case of decline, the main task for bulls is not to let ETH break through the bottom line of the young ascending channel although the range of $500-$520 should stop the bears anyway, at least for some time.

EOS/USD is ready for a breakthrough

EOS/USD

EOS has been on fire recently: the long-awaited mainnet launch was followed by accusations of high-degree centralization and blocking of several accounts in an attempt to stop coin thefts. However despite some fundamental problems, from the view of technical analysis the main Ethereum -0.33 percent competitor is doing very well.

Although EOS is still moving in descending channel, its width doesn’t prevent traders to derive profits with acceptable level of risk. The price fluctuations have formed a triangle, which will be resolved tomorrow at the latest. The upper boundary of the triangle is formed by powerful hidden mirror level (marked in orange), breaking through which will confirm bulls’ strength. In this case, the nearest mid-term target lies at $12.5 directly on the intersection of the boundary of the descending channel and 0.618 Fibonacci retracement. We expect a rebound from this level and after some rest the bulls may try to achieve $14.5.

As for the negative scenario, for now $9.5 should act as a reliable support which should restrain bulls’ pressure.

Ethereum Classic in on rampage

ETC/USD

From the list of top 50 altcoins, Ethereum -0.33 percent Classic is showing the most rapid recovery, surging 15 percent in 24 hours. The reason still lies behind announcement of listing on Coinbase which caused a sharp spike in trading volumes unseen since February. Considering that coin’s all-time-high was set at $47, there is enough space for a considerable increase of current price.

Immediate further growth can however be stopped by reaching an important resistance level formed by the upper boundary of the descending channel and strong 0.382 Fibonacci retracement. A couple of days which Bitcoin -0.49 percent traders may take to decide on further direction should be enough for ETC to gain a foothold before the bulls may attempt to reach next target defined at $20.5 in short-term.

No doubt Ethereum -0.33 percent Classic will follow the market, but most probably at a higher speed. The bulls are in a winning position, and in case of a negative scenario, it would be an uphill task for the bears to drag the price below $15.5 where a resistance was formed.

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Bitcoin Ready For Correction; Ripple, Monero and Litecoin on Their Way Down

Do you believe in eternal growth? Neither do Ripple, Monero and Litecoin investors as altcoins show first signs of decline
Bitcoin Ready For Correction; Ripple, Monero and Litecoin on Their Way Down
Contents

Once again, the middle of the week risks becoming a local turning point in the market. Sooner or later, such rapid growth has to be paid for and we are sympathetic towards those who bought Bitcoin at, say, $9,700. They may still be able to break even within the next few days, but this kind of recklessness is not the best companion in cryptocurrency trading and may eventually lead to ruin.

BTC dominance achieves stability

In the meantime, the capitalization grew by a modest seven bln over 24 hours and is now $433 bln.

Bitcoin dominance, as we predicted earlier, has stabilized around 38 percent and may start growing again in the event of a correction, since decline rates are usually higher for altcoins.

Red daily values are already cropping up amidst assets: first of all, this is Bitcoin Cash, IOTA, Dash- everything that had been growing most actively in the past few days.

A few altcoins still growing but not for long

Continuing to climb are EOS, rising by 20 percent with the news of a main net launch in June, and Bitcoin with an increase of six percent. TRON burst into the top 10 with an impressive 30 percent of growth, but here we are dealing with pure speculation. According to experts, the project is fundamentally weak, so we believe it will leave the top 10 as quickly as it came in.

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BTC/USD

Despite its weight, Bitcoin seems to have overcome the laws of gravity and grew by another $250 after reaching the goal of $9,500, which we discussed yesterday. At the moment, we have seen growth without fallbacks for seven days.

Meanwhile, the bulls are already beginning to slow down, and we are seeing candles with rather long shadows on the four-hour graph. Under different circumstances, we could suppose that this is a forced stop before continued growth, but given the previous movement, the loss of momentum is threatening a fall.

BTC / USD, Bitfinex, 4 Hour Chart

The first stop in the course of the correction, which is forming a clearer outline, will be made at $9,175, but the price will not linger there. The next cascade of targets is represented by the set of $8,800 - $8,400 - $7,800.

The achievement of the first goal, located at the upper boundary of our formation of ascending channels, leaves no doubt, while the realization of the second and third targets will depend on the appetite of the bears.

In the current situation, growth is only possible by means of a miracle, for instance, if a big player will support purchases with a huge volume. In this unlikely scenario, $10,000 could become the next goal, but it would be reckless to build a trading strategy based on this assumption.

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XRP/USD

On Monday, we congratulated our readers on the achievement of the third medium-term growth target with a slight error, but in the course of the past day the bulls managed to conquer $0.95- we promised and our forecast came true. This was followed by the expected fallback, which continues now. Its depth fully depends on the efforts of bears in the trading pair BTC/USD.

XRP / USD, Bitfinex, 4 Hour Chart

The first decline target is the level of $0.85, which coincides with the 0.236 value of the Fibonacci retracement, followed by $0.8, the level of the previous local "piercing" down. Finally, the third target is located at $0.77 and is denoted by the 0.382 value of the same grid.

First of all, given the amount of capital that went into Ripple in the last two weeks, we assume that big players will actively defend their positions. Second, a deeper correction will break the ascending channel, which will create problems for buyers in the future.

However, in the case of such a negative scenario, we will indicate a fourth goal- it is defined by powerful mirror levels, as well as by the 0.5 value of the Fibonacci grid and is located at $0.71.

XMR/USD

After reaching the goal of $300, Monero has already corrected to $265, which coincides with the 0.236 value of the Fibonacci grid, but we believe that this is far from being the limit. With a high degree of probability, this first stage of decline will be followed by a return to the lower register of the ascending channel and correction to at least $245.

XMR / USD, Bitfinex, 4 Hour Chart

At this level, we expect a surge in buyer activity, but pressure from the falling Bitcoin can erase all efforts to protect long-term positions. In that case, the pain limit for investors at the moment is located at the value of $230, which coincides with a powerful mirror level of support-resistance. A deeper correction will undo all previous successes of buyers and greatly damage the reputation of the asset.

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LTC/USD

Of all the assets listed in the review, Litecoin, as per an unfortunate tradition, is doing the worst. It's not even that the rate of its decline was higher than that of other coins. It’s just that the price failed to form an expanded price channel, so any more or less significant downward fluctuations will break the current one.

LTC / USD, Bitfinex, 4 Hour Chart

In this case, a fall is likely to the 0.382 level of the Fibonacci retracement- namely, to $145. The second target is $137 and, given the presence of a mirror level, can become the final one.

No matter how the situation develops in the LTC/USD pair, after the correction is completed, we still do not recommend trading this asset. A month ago we wrote that Litecoin looked pale compared to more promising competitors- nothing has changed since then.

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